ARE YOU A PENNY STOCK JUNKIE?
Yes or no Quiz . . . [write them down. . .no cheating, unless you live in Boca Raton]
1. Have you lost more than 10 percent per month for more than 1 month in a row?
2. Have you bought a stock on someone elses advice in the past 60 days?
3. Have you had outstanding utility bills, but made OTC trades anyway?
4. Have you bought the high of the day at any time in the past 60 days?
5. Do you still hold worthless shares in your portfolio as a reminder of what not to do?
6. Does your spouse think you are crazy for messing with penny stocks and no longer wants to hear about them. . . or have you not been out on a date in several months?
7. Have you ever held a stock beyond losing half your money, because you "believed in them." ??
8. Have you ever missed going somewhere fun, because you thought you might miss something in the market, or you needed to make a trade?
9. Do you receive more than 5 OTC newsletters per day or do you actually read any of them?
10. Are you on a first name basis with your broker?
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If you answered no to ALL of these questions, congratulations. . .you are superhuman and should apply for a job at the SEC.
If you answered yes to 1 or 2 questions, you have terrific control and are probably seeing terrific gains in your portfolio.
If you answered yes to 3 or 4 questions, you are probably breaking even, but then a mutual fund could do better than that.
If you've answered a yes to 5 or 6 questions you have a problem and should consider changing your trading strategies before your losses continue to mount. . .I certainly hope you have not quit your day job, because trading is not an alternative for you.
If you have 7 or 8 yes answers, you have a serious problem and are constantly in jeopardy of losing everything. The thrill and excitement of trading has become a drug and you are not using common sense in your trading practice. You are incapable of walking a single block in a major city without being approached by panhandlers and hustlers, who call you "mark." You have paid for a time-share that you have never used. And you get 5 magazine subscriptions for no other reason than because you think that by ordering them from your sweepstakes entry, it will raise your chances of winning. Penny stock scams are written with you in mind. And at some time in your life a dog has pee'd on your leg.
If you have 9 or 10 yes answers, you should move to Vancouver and begin publishing your own OTC newsletter. . .you are beyond all hope.
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